May 7th BTC Intraday Trading Strategy: Range-bound Play Under Resistance Pressure

Bitcoin's recent rebound reached above 82,800 but faced strong resistance and pulled back, currently operating below the key resistance zone, entering a phase of oscillation and consolidation with repeated tug-of-war between bulls and bears. From a technical perspective, the intensity of the battle between buyers and sellers continues to escalate; on-chain data shows marginal improvement, but overall market sentiment remains cautious and has not formed a consensus on a bullish trend.

The current market is caught in a tug-of-war between panic-driven news sentiment and institutional capital support. Before the price effectively stabilizes above the 200-day moving average (83,300), any chasing of gains or panic selling near this level should be approached with caution, as it is highly susceptible to falling into a range-bound trap. Additionally, whether MicroStrategy will proceed with its Bitcoin selling plan remains the biggest uncertainty hanging over the market, requiring ongoing monitoring of related developments.

For intraday operations, it is recommended to adopt a cautious wait-and-see approach, maintaining a "watch more, do less" trading rhythm. If the rebound reaches the 82,000-82,800 range, consider short positions; the first target below is around 80,000, with further support near 79,000.